Venture capitalist Fred Wilson suggests that cryptocurrencies will not be able to obtain the status of a safe asset class amid weakening economies in 2019.
In his blog, Wilson has invested in companies like Twitter, Tumblr, Zynga and Etsy, as well as in cryptocurrencies in its early stages, has published an article titled “What happens in 2019”, where he predicted a series of bearish developments, including the decline in the stock market, “the weakening of economies in” significant problems in the global financial system. They are, in the author’s opinion, will make investors more cautious approach to the issue of investments in the sector startups. The same effect can spread to the cryptocurrency market, but Wilson admits that he would “show signs of life.”
As the momentum for the start of the next bullish phase in the cryptocurrency industry, Wilson points to a number of “promises” made in 2017. Among other things, he mentions the project Filecoin from Protocol Labs payment system on the blockchain Algorand and various platforms of smart contracts, “the next generation” able to compete with Ethereum.
In the opinion of the investor, stabilini will continue its development and dissemination among the customers in this year, as well as possessing unique characteristics nonfungible-token, crypto-games, and solutions for earnings and spending of the cryptocurrency.
“I’m concerned about biased regulators who will pay attention to high profile projects and to harm them. We will continue to observe all sorts of failures, have benches, hacks, failed projects and loss of investment,” says Wilson.
Last year, Wilson said that the average investor should allocate 3-5% of their investments on crypto-currencies, while in its portfolio accounted for about 5%.
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